5 Specialized Virtual Data Room (VDR) Use Cases For Mission-Critical Processes
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The majority of providers offer a no-cost trial to test the usability and security as well as the price of the virtual dataroom (VDR) before deciding whether you should use it to share confidential documents with other parties. While these aspects are important however, many do not consider that the real value of a VDR lies in its specialized capabilities to facilitate the sharing of confidential documents for mission-critical processes.
VDRs are particularly beneficial for professionals https://vdrblog.com/who-uses-vdrs/ who need to share sensitive documents with service providers, investors and third-party organizations. A VDR properly configured will ensure that documents such as HR and financial documents, legal documents of clients or proprietary intellectual property business plans, or even proprietary intellectual properties are only accessible to people with the appropriate permissions.
Mergers and Acquisitions (M&As) procedures require large volumes of documentation to be exchanged. They must be reviewed with security by multiple parties. VDR’s permission settings are granular and easy-to-use folder structures make it an ideal repository for due diligence processes.
VDRs are utilized by biotech and pharmaceutical companies to share confidential molecules and formulations with regulators and other labs in their research and development processes, or to prepare for fundraising activities and licensing. Since such information is highly sensitive and requires strict data protection standards and regulations, a specially-designed VDR is the best option for this type of collaboration.
It’s the same for commercial real estate projects where investors and buyers need to review large format blueprints, financial statements, and more. A VDR lets them accomplish this without the limitations of emails or file-sharing systems that are generic that typically require lengthy downloads or uploads. They also cannot handle multiple users at once.